Disbursement of Net Proceeds. (a) If Net Proceeds are required to be made available for Restoration pursuant to either Section 8.1.2 or 8.1.3 hereof, the Agent shall make such Net Proceeds available to the Borrower for the Restoration; provided that, except in respect of all of the Net Proceeds of recoveries up to $250,000, each of the following conditions is met:
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Disbursement of Net Proceeds. (a) If Net Proceeds are required to be made available for Restoration pursuant to either Section 8.1.2 or 8.1.3 hereof, the Agent Lender shall make such Net Proceeds available to the Borrower Property Owner for the Restoration; provided that, except in respect of all of the Net Proceeds of recoveries up to which do not exceed $250,000250,000 in total, each of the following conditions is are met:
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Samples: Mezzanine Loan Agreement (Prime Group Realty Trust)
Disbursement of Net Proceeds. (a) If Net Proceeds are required to be made available for Restoration pursuant to either Section 8.1.2 or 8.1.3 hereof8.1.3, the Agent shall make such Net Proceeds available to the applicable Borrower for the Restoration; provided that, except in respect of all of the Net Proceeds of recoveries up to $250,000, that each of the following conditions is are met:
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Samples: Revolving Credit Agreement (Shelbourne Properties Ii Inc)
Disbursement of Net Proceeds. (a) If Net Proceeds are required to be made available for Restoration pursuant to either Section 8.1.2 or 8.1.3 hereof, the Agent shall make such Net Proceeds available to the Borrower Property Owner for the Restoration; provided that, except in respect of all of the Net Proceeds of recoveries up to which do not exceed $250,000250,000 in total, each of the following conditions is are met:
Appears in 1 contract
Samples: Mezzanine Construction Loan Agreement (Prime Group Realty Trust)
